At this moment the lower resistance line is very crucial. As long as Dow can remain above this supporting line, most investors will not rush to sell stocks, there may be some that choose to reduce their exposure in stocks in stages. Must monitor closely the 10,000 level for Dow.
Hang Seng Index of Hong Kong is in a same situation as Dow. As long as Hang Seng remains within the up-trend channel and does not go below 18,000 it can form a major wave
(IV). But the moment Dow falls below 10,000 Hang Seng will definitely break below its 18,000 level and the world economy will be heading for its second dip.
Singapore STI's wave form looks rather different, it is at its wave
5 of major Wave (I). If Dow and Hang Seng go for wave (IV) and (V), STI is likely to proceed with its wave 6, 7, 8 and 9. But if Dow and Hang Seng are heading for the big C, STI will likely to go for a 100% retracement for its wave (II) and to form a double bottoms reversal formation.
At this moment the lower resistance line is very crucial. As long as Dow can remain above this supporting line, most investors will not rush to sell stocks, there may be some that choose to reduce their exposure in stocks in stages. Must monitor closely the 10,000 level for Dow.
Hang Seng Index of Hong Kong is in a same situation as Dow. As long as Hang Seng remains within the up-trend channel and does not go below 18,000 it can form a major wave (IV). But the moment Dow falls below 10,000 Hang Seng will definitely break below its 18,000 level and the world economy will be heading for its second dip.
Singapore STI's wave form looks rather different, it is at its wave 5 of major Wave (I). If Dow and Hang Seng go for wave (IV) and (V), STI is likely to proceed with its wave 6, 7, 8 and 9. But if Dow and Hang Seng are heading for the big C, STI will likely to go for a 100% retracement for its wave (II) and to form a double bottoms reversal formation.
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